Zacks Investment Management Has $46.21 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Zacks Investment Management cut its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,212 shares of the semiconductor company's stock after selling 18,716 shares during the period. Zacks Investment Management owned 0.06% of Synopsys worth $46,212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in shares of Synopsys by 117.7% in the fourth quarter. Marshall Wace LLP now owns 390,000 shares of the semiconductor company's stock valued at $189,290,000 after acquiring an additional 210,888 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Synopsys by 5.1% during the 4th quarter. NewEdge Advisors LLC now owns 2,615 shares of the semiconductor company's stock worth $1,269,000 after purchasing an additional 127 shares during the period. Everest Management Corp. acquired a new position in shares of Synopsys during the fourth quarter valued at about $213,000. Regal Investment Advisors LLC grew its position in Synopsys by 41.0% during the fourth quarter. Regal Investment Advisors LLC now owns 1,235 shares of the semiconductor company's stock worth $599,000 after buying an additional 359 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Synopsys during the fourth quarter valued at about $453,000. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

SNPS stock traded down $2.33 during mid-day trading on Friday, hitting $413.32. 1,002,399 shares of the company were exchanged, compared to its average volume of 1,091,650. The firm has a market cap of $63.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm's 50 day simple moving average is $446.35 and its 200 day simple moving average is $495.11.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNPS shares. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Bank of America lowered their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday. Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, KeyCorp dropped their target price on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $618.31.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.